10Brokers Review: Is Scam or Genuine?

10Brokers Review: Is Scam or Genuine?

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10Brokers is a shameless Forex and CFD scam platform that has a terrible reputation in the industry. The pyramid scheme claim that they offer traders an MT4 trading platform.

Indices that you can trade are; Hong Kong Hang Seng, American Dow Jones, Japanese NIKKEI, German DAX, British FTSE, additionally you can trade commodities like oil, natural gas, gold, precious metals, and silver.

Traders love the interface due to the MQL marketplace, low hardware demand, and the availability of charts. You can additionally automate your trade by using the platform. Moreover, you can trade on any gadget, be it mobile or laptop provided you have an internet connection.  They do not have trade size; all they require from traders is for them to maintain a value of $10.

10Brokers Review

The investment firm states that they deal with CFD, commodities, Forex, indices, and cryptocurrency trading. The company was launched in 2018; they are less than one-year-old.  They are targeting newbies in the market.

The company offers a massive spread of 3 pips to traders. That is a lot than what their competitors are offering. Reputable Forex brokerage offers a spreads starting from 1.6 pips in the EUR/USD currency pair. Instead of investing with this platform, you should venture with a more transparent Forex broker in the market that will not compromise your money or security.

10Brokers Review,10Brokers Platform

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10Brokers offer users leverage of 1:400 that is not a wrong level; however, other platforms provide even high leverage to their traders. Margin trading is risky. The higher the leverage, the more risk you are exposed to. Remember, do not trade with the amount you cannot afford to lose.

Investment Plan

The platform has three account types that traders can select from. They have Standard, Gold, and VIP investment plans. The standard accepts $50-$5,000, while gold accepts $5,000 to $10,000, and the VIP account accepts funds ranging from $10,000 to $30,000.

The only feature that distinguishes the accounts is the variation in the spread. Unfortunately, the platform does not comprehend to discuss the range. You will have to contact them to get details. The significant difference is that the VIP traders will have access to a personal manager.

The managers will provide them with insight regarding the market. It would be best if you were very careful since this platform has scammed many investors in the market. Considering they have not shown the qualification of their fund managers, it would be best if you keep off.

Deposit and Withdrawal

The company is not straightforward in its minimal requirement info. They claim that the least amount that you can cash in is $50, but the state in a different section that you need to deposit at least $500 to use their services.

10Brokers accepts payment using cards. They do not receive money using popular methods like Neteller, Skrill, or PayPal is also convenient.

It is misleading, and that is another sign why you should not venture into this company. A fee of $500 is more than what other reputable Forex brokerages are asking. It is advisable that if you are novice traders to trade with a small amount of money for you to avoid losing much.

After you have gained enough experience, you can go big in with your investment. The withdrawal information is not discussed adequately. Without knowing all the requirements, 10Brikerz should not be your choice of a trading partner.

Regulation and Customer Support

The company that monitors the operation of 10Brokers is KHO TEHCH Ltd. It is an alleged registered entity in Saint Vincent and Grenadines. The company is not a legit platform, and it also behind MRT Markets, which is also a shady pyramid scheme.

They additionally claim they are members of the Financial Services Provision Commission (FSPC). Unfortunately, FSPC is not a regulatory body that you can trust. They do not have the power over investment services that they oversee.  The financial assistance was established to give these Ponzi schemes credibility.

You cannot compare such a financial regulator body with renowned financial watchdogs that have stringent measures with investment companies. You should only invest with companies that are licensed by the FCA, NFA, CySEC, or ASIC. The bodies are determined to protect their citizens from scammers in the market.

Serious investment companies follow their guideline while Ponzi schemes forge or do not bother getting the regulatory documents from them. It is because their sole purpose is to defraud investors.

The company offers customer support services via telephone; +442031294988, and email; [email protected]

However, clients who had deposited funds with 10Brokers have raised complaints about how they run things. They will only contact you when they need you to deposit more. Additionally, they use a random phone number to reach you.

When you want to make a withdrawal request, they will cut all communication with you. The platform is only after your money. The platform has no intention of making anyone rich.

Investors Feedback

10Broikers is being run by professional scammers who are friendly to investors when they are only convincing them to deposit funds. Unfortunately, when you make withdrawal requests, they will lose money deliberately.

The company is not allowing investors to withdraw their funds. They have also stopped responding to users’ emails. With this bad reputation, stay away. The money will be available on the dashboard, but you cannot withdraw it. They indicate you wait for three weeks for the withdrawal process to be complete. However, even when the period ends, they still don’t disburse the money.

After scamming you the first time, they will call you using different identities, asking to cash in more money. The scammers are hungry wolves who will leave you high and dry. They call people using different phone numbers. You will only make returns at the initial stage. Then from there, you will never get profits.

Security of Funds in 10Brokers

The platform does not offer their clients the safety of funds. The area they claim to be based is infamously known to be a Ponzi scheme hotspot. 10Brokers is done not to follow the guidelines that various financial bodies have put in place.

They do not segregate funds; hence there is a higher possibility they will be cashing indirectly to the scammer pocket. The fact that they have not provided any financial institution information tells it all. The company does not have a compensation scheme that they can use in case they face insolvency.

The entity behind the operations of this company has even lost its FSPC license. The platform is being run anonymously, and we do not know the qualification that their team has. KHO TEHCH limited has a nasty reputation online, and we would not advise any investors to pursue any services with them.

Final Verdict

10Broker is not a licensed Forex brokerage. The company will break the law, willingly compromising their investors in the process. The platform will not survive long in the market and, it is expected that they will exit once they will no longer scam investors.

It is also unknown who is the CEO of 10Brokers. It would help if you were very careful when dealing with anonymous entities. Furthermore, the company that claims to be behind the activities of this firm is associated with fraudulent activities. Invest with legit Forex trading brokerage to ensure you are not scammed.

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